Dutch brewing giant Heineken on Monday saw its share price plummet over five per cent after revising outlook downwards for the year, despite reporting a leap in first-half profits.

The world’s second-largest brewer saw profits jump 9.1 per cent to 950 million euros (US$1.1 billion) from January to June, while revenue hit 10.8 billion euros, up 4.2 per cent from the same period last year, a statement said.

But Heineken revised downwards its outlook for the year as a whole, predicting a 20 basis point fall in operating profit margin for 2018.

Investors in the Amsterdam stock exchange reacted coolly to the news, dragging the company’s share price down nearly 5.8 per cent in Monday morning trading.

“Economic conditions are expected to remain volatile and Heineken assumes a negative currency impact, comparable to 2017, on revenue and operating profit,” Heineken’s statement said.

“Operating profit margin was lower than last year mainly due to the consolidation of Brasil Kirin, adverse currency effects, and higher input costs,” CEO Jean-Francois van Boxmeer said.

Last year Heineken took over Brasil Kirin and Lagunitas in the United States. In February this year the company opened its seventh brewery in Mexico, pouring 500 million euros into the venture. Heineken also acquired Red Stripe in 2015 and returned its export operations back to its roots in Jamaica — renewing the brand’s authenticity as a Jamaican product.

In the first half of the year, Heineken saw beer volumes rise 7.5 per cent worldwide, driven by double-digit growth in Brazil, South Africa, Russia, Nigeria, Mexico and several European countries. Heineken, in its 2017 annual report, noted that its international brands portfolio continued to be a strong driver of volume and premium revenue growth, representing all corners of the globe, and includes Amstel (which is now available in over 100 markets), Desperados, Sol, Tiger, Tecate, Red Stripe, Krušovice and Birra Moretti.

The group is the world’s second-largest brewer after Belgium-based AB InBev.

Heineken said sales were boosted by Uefa Champions League and Formula 1 sponsorships. Non-alcoholic Heineken 0.0 beer — now available in 33 countries — also continued to perform well following a 2017 launch.